Intraday trade: PKR gains 19 paisa against US dollar

KARACHI: The Pakistani rupee (PKR) made a slight gain against the US dollar (USD) in the interbank market on Tuesday, appreciating by 0.07 per cent during the opening hours of trading.

By 10:35 am, the rupee was trading at Rs279.47, marking an increase of 19 paisa compared to Monday’s closing rate of Rs279.66.

Stock market performance

In addition to the rupee’s modest rise, the Pakistan Stock Exchange (PSX) also experienced positive movement. The benchmark KSE-100 index surged by 1,559.5 points, reaching 115,889.60 during day trading, compared to Monday’s close of 114,330.10.

Yearly performance of the PKR

Since the beginning of the fiscal year, the rupee has weakened by Rs1.32 or 0.47 per cent against the dollar. Similarly, since the start of the calendar year 2025, it has depreciated by Rs1.11 or 0.40 per cent.

Global market overview

On the international front, the US dollar strengthened after reaching its lowest point in more than two months earlier in the week. This rebound was driven by safe-haven flows following comments from US President Donald Trump.

Trump confirmed that tariffs on Mexican and Canadian imports would proceed as scheduled, despite efforts from both nations to curb the flow of fentanyl into the US. His remarks spurred demand for assets like gold and US Treasuries, pushing the dollar higher.

The euro also faced pressure, trading off a one-month high at $1.0461. The currency’s future gains depend on how quickly Germany can form a coalition government following the victory of its conservative party in recent elections.

Previous close

On Monday, the rupee had weakened by 9.27 paisa or 0.03 per cent, closing at Rs279.66 per USD. During that session, the rupee traded at a high of Rs279.70 and a low of Rs279.65.

Over the past 52 weeks, the currency has ranged between Rs277.52 (high) and Rs279.66 (low). With Monday’s close, the rupee stands 0.77 per cent below its highest level within the last year.

Open market rates

In the open market, the dollar was quoted at Rs279 for buying and Rs281.45 for selling.

PKR’s performance against other foreign currencies

Saudi Riyal: The PKR weakened slightly by 2.48 paisa or 0.03 per cent, closing at Rs74.57 on Monday.

British Pound: The rupee strengthened by 67.96 paisa or 0.19 per cent to Rs353.52, compared to Rs354.20 on Friday.

UAE Dirham: The rupee depreciated by 2.53 paisa or 0.03 per cent, settling at Rs76.14.

Japanese Yen: The rupee fell by 1.45 paisa or 0.78 per cent, closing at Rs1.8718 from Rs1.8573.

Euro: The PKR gained 22.43 paisa or 0.08 per cent, closing at Rs293.17.

Chinese Yuan: The rupee slipped by 1.86 paisa or 0.05 per cent, ending the day at Rs38.59.

Swiss Franc: The PKR weakened by 53.70 paisa or 0.17 per cent, closing at Rs311.76.

Read next: PSX gains over 1,500 points in early trading